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Walnut Valley Unified School District December 5, 2012

Walnut Valley Unified School District December 5, 2012. First Interim Financial Report as of October 31, 2012. Success. We ALL row together and EVERYONE moves forward. Budget Calendar. September 2012 – 45 Day Budget Update September 2012 – 2011-12 Unaudited Actuals

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Walnut Valley Unified School District December 5, 2012

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  1. Walnut Valley Unified School District December 5, 2012 First Interim Financial Report as of October 31, 2012

  2. Success We ALL row together and EVERYONE moves forward

  3. Budget Calendar • September 2012 – 45 Day Budget Update • September 2012 – 2011-12 Unaudited Actuals • November 2012 – Election • December 2012 – 2012-13 First Interim Report to Board for Approval • January 2013 – Governor’s Projected Budget for 2013-14 Released • March 2013 – 2012-13 Second Interim Report to Board for Approval • May 2013 - Governor’s “May Revise” • June 2013- Board of Trustees Adopts Proposed 2013-14 Budget

  4. REVENUE PROJECTIONS – Current Year (2012/2013) and Subsequent Years (2013/2014 and 2014/2015) REVENUE ASSUMPTIONS: • ADA 14,440 for 2012/2013 using estimated ADA 14,440 for 2013/2014 using estimated ADA 14,440 for 2014/2015 using estimated ADA • 3.24% COLA for 2012/2013 (22.272% RL Deficit) – Net COLA 0% 2.00% COLA for 2013/2014 (23.790% RL Deficit) – Net COLA 0% 0.00% Net COLA for 2014/2015 (23.790% RL Deficit) • All other State revenues net increase of 0% in 2013/14 and 2014/15 • Federal and Local revenues funded at same rate • Interest estimated at 2.30% for 2012/2013, 2.70% for 2013/2014 & 3.00% for 2014/2015 • Per ADA lottery allocation $154 per ADA funded at same rate

  5. COMBINED REVENUE 2012/2013

  6. COMBINED EXPENSES 2012/2013

  7. Combined General Fund SUMMARY – FIRST INTERIM

  8. Unrestricted GENERAL FUND SUMMARY

  9. SUBSEQUENT YEAR PROJECTIONSExpense Assumptions 2013/2014 & 2014/2015 • Additional Certificated FTE’s- None • Employee Compensation: 1.20% Step & Column (after attrition) 2.7% Health & Welfare 2013/2014 1.7% Health & Welfare 2014/2015 0% Salary Increase 2013/2014 0% Salary Increase 2014/2015 • Operations: Utilities increased $175,000/year in 2013/14 and 2014/15 • Presumes $100,000 Savings in 2012/13 due to Budget Freeze • :

  10. General Fund Summary Projection(Combined)

  11. Unrestricted ENDING BALANCE COMPONENTSCurrent Year (2012/13) and Subsequent Two Years

  12. Criteria and Standards ITEMS THAT DO NOT MEET CRITERIA AND STANDARDS • Revenue Limit – Projected RL for subsequent two fiscal years has changed by more than two percent since budget adoption • Deficit Spending – Unrestricted deficit spending has exceeded the standard in the current and subsequent two fiscal years • Fund Balance – Projected General Fund Balance will be negative at the end of the subsequent second fiscal year • Reserves – Available reserves does not meet minimum requirements in the subsequent two fiscal years • Contributions to Other Funds – Eliminated Local Matching requirement from GF to Deferred Maintenance Fund

  13. 2012/13-2014/15 Reductions in Ongoing Expenses In Submitting the 2012/13 First Interim Report, The Board of Trustees understands its fiduciary responsibility to maintain fiscal solvency for the current and subsequent two fiscal years. District Administrators have agreed to a 3.26% reduction in salary which is the equivalent of six to seven furlough days in 2012-13. The District is currently negotiating with CSEA, and proceeding to mediation subsequent to declaration of impasse with WVEA. 22

  14. Certification of Financial ConditionFirst Interim Financial Report Positive Certification • ‘As President of the Governing Board of this school district, I certify that this district will be able to meet its financial obligations for the current fiscal year and subsequent two fiscal years.’ Qualified Certification • ‘As President of the Governing Board of this school district, I certify that this district may not meet its financial obligations for the current fiscal year and subsequent two fiscal years.’ X Negative Certification • ‘As President of the Governing Board of this school district, I certify that based upon current projections this district will be unable to meet its financial obligations for the remainder of the fiscal year or for the subsequent fiscal year.’

  15. If each of us is moving forward togetherSUCCESS takes care of itself

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